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NEWS RELEASE BankFirst CORPORATION P.O. Box 10 , Manitowoc , WI 54221-0010 For further information , contact : Kevin M LeMahieu , Chief Financial Officer Phone : ( 920 ) 652-3200 / klemahieu@bankfirstwi.bank FOR IMMEDIATE RELEASE Bank First Announces Net Income for the Second Quarter of 2021 • Net income of $ 11.5 and $ 23.1 million for the three and six months ended June 30 , 2021 • Earnings per common share of $ 1.50 and $ 2.99 for the three and six months ended June 30 , 2021 Annualized return on average assets of 1.65 % for the six months ended June 30 , 2021 , compared to 1.32 % for the first half of 2020 Quarterly cash dividend of $ 0.21 per share and special one - time cash dividend of $ 0.29 per share declared MANITOWOC , Wis , July 20 , 2021 -- Bank First Corporation ( NASDAQ : BFC ) ( " Bank First " or the " Bank ” ) , the holding company for Bank First , N.A. , reported net income of $ 11.5 million , or $ 1.50 per share , for the second quarter of 2021 , compared with net income of $ 8.3 million , or $ 1.11 per share , for the prior - year second quarter . For the six months ended June 30 , 2021 , Bank First earned $ 23.1 million , or $ 2.99 per share , compared to $ 15.6 million , or $ 2.14 per share for the same period in 2020 . Operating Results Net interest income ( " NII " ) during the second quarter of 2021 was $ 21.8 million , down $ 0.3 million from the previous quarter but up $ 1.0 million from the second quarter of 2020 . The quarter - over - quarter decline in NII was related entirely to interest income recognized on Paycheck Protection Program ( " PPP " ) loans . These loans produce volatile recognition of NII as discussed in the following paragraph . NII for the first six months of 2021 was $ 43.9 million , up from $ 39.4 million for the first six months of 2020 . Throughout the previous fifteen months Bank First was a very active participant in the PPP , a Small Business Administration ( " SBA " ) loan program aimed at supporting small business through the turbulent economic environment created by the COVID - 19 pandemic ( “ COVID ” ) . This program provided funds to small businesses with very favorable loan